Swissport signs agreement to acquire Aerocare and enter growing Australasian market
Swissport Group (“Swissport” or “the Group”), the global market leader in ground and cargo handling services, is pleased to announce that it has entered into an unconditional agreement to acquire Aerocare, the number one ground handling operator in Australia and New Zealand, and its subsidiary companies, Skycare, Carbridge, and EasyCart (the “Acquisition”), from Archer Capital and Aerocare management. Financial terms of the Acquisition were not disclosed.
As the largest ground handler in Australia and New Zealand and the regional leader in flight support services, Aerocare currently serves 36 airports and manages over 160,000 flights and 15 million passengers annually. The acquisition of Aerocare brings significant strategic benefits to Swissport, namely:
It expands the Group’s international footprint into the Australasian market.
It delivers a key platform for the company to strategically expand its reach into the fast-growing Asia-Pacific market, complementing a specific focus on entry into China, and to achieve further global growth.
It has a highly capable management team, focused on delivering safe, best-in-class services – matching Swissport’s own exacting standards.
It brings to Swissport a comprehensive blue-chip customer base that has experienced impressive growth in recent years.
Eric Born, President & CEO of Swissport, commented:
“Aerocare has an impressive track record and is the market leader in a region where we anticipate continued growth in the coming years. It perfectly complements our strategic priorities for growth and operational excellence, and we are delighted to have the Aerocare team joining Swissport.”
Glenn Rutherford, CEO of Aerocare, commented:
“We are very excited to become part of the Swissport Group. We have devoted a lot of time and effort into building a safety- and customer-focused business, sharing the same high values as Swissport.
“I want to thank all of our staff for their continued efforts as we enter this exciting new phase.”
Adam Tan, HNA Group CEO and Chair of Swissport, commented:
"This is an exciting and highly strategic acquisition for Swissport, a core holding of HNA Group, and is indicative of the types of strategic investments that Swissport and HNA will continue to seek and complete, in order to grow our global network of businesses. Today’s announcement demonstrates our continued commitment to our international investments and to helping our portfolio companies grow and prosper."
Following the closing of the acquisition in the coming weeks, Swissport will invest to further grow and enhance Aerocare’s operations and employee base, and Aerocare’s management team will continue to lead the Aerocare business from its Australian headquarters.
Swissport International Ltd. provides ground services for more than 230 million passengers and handles 4.3 million tonnes of cargo a year on behalf of some 835 client-companies in the aviation sector. With a workforce of more than 62,000 personnel, Swissport is active at more than 280 stations in 48 countries across five continents, and generates consolidated operating revenue of EUR 2.7 billion. www.swissport.com
For more information please contact:
Swissport International Ltd.
+41 43 815 00 00
Richard Oldworth / Chris Judd
T: +44 (0)20 7466 5000